Risk shifting and long-term contracts
Subtitle: evidence from the Ras Gas Project
By: Mansoor Dailami and Robert Hauswald.
Contributors: Hauswald, Robert.; World Bank Institute. Governance, Regulation, and Finance Division.
Series: Policy research working paper ;; 2469; Policy research working papers (Online) ;; 2469.
Publisher: World Bank Institute, Governance, Regulation, and Finance Division
Published: 2000
Place of publication: Washington, DC
Language: eng
Format: Electronic resource
Subjects: Project finance -- Korea (South); Incomplete contracts -- Korea (South); Public utilities -- Korea (South); Bonds -- Korea (South); Risk -- Korea (South)
Description: Risk shifting and incomplete contracting lie at the heart of the agency relationship inherent in the procurement and financing of large-scale projects such as power plants, oil and gas pipelines, and liquefied natural gas facilities. An investigation of Ras Gas bonds provides empirical evidence of the risk-shifting consequences of contractual incompleteness.
Notes: Includes bibliographical references (p. [21]-23).
"November 2000"--Cover.
Also available in print.